Having a derogatory mark on your credit report can lock you out of the system but there is a solution If you’ve ever been denied for a loan, there’s a good chance you got a letter saying it was because of derogatory marks on your credit report. That’s what started happening to me in 2009 after ruining my credit. It came as a shock. I had never had trouble getting a loan before but here I was … [Read more...]
The Simple Answer to Should I Refinance My Car?
Refinancing your car can lower your payments, get a better rate and get you out from under the dealer Most people know that you can refinance your mortgage for better rates, a lower payment or both. We’ve refinanced our home twice for different reasons and it was a great decision both times. What many don’t realize is that you can refinance your car for exactly the same reasons and get the … [Read more...]
Debt Reduction Services and a Better Option to Save You Money
Debt reduction services can settle your debt but it also comes at a cost. Understand the pros and cons of debt settlement as well as other options available. Let me start off by saying debt reduction services are not my favorite financial solution…by a long shot. In fact, I’d say debt relief should be your last option if you absolutely don’t think you can avoid bankruptcy. Other financial … [Read more...]
3 Key Facts about Your Credit Utilization Ratio
Understanding your credit utilization ratio is critical to your credit score and getting the money you need It may seem like lenders create your credit score out of thin air to decide whether to approve or deny you credit. The reality is there are a mix of factors that go into the number, some of which you can control and some you cannot. One of the most important credit score factors, and one … [Read more...]
11 FICO Credit Score Myths that Will Change Your Financial Life
These FICO credit score myths can keep you from getting the money you need, a good job or even a roof over your head Your FICO credit score is one of the most important parts of your financial life. It can help you find your dream home, get you cheaper rates on insurance and even help you land a job. Unfortunately, there is a lot of fake news about credit scores. I’ve seen FICO credit score … [Read more...]